Swiss Re's 2013 profits reach $4.4bn

Swiss Re at 30 St Mary Axe

Reinsurance giant Swiss Re increased profits and premiums last year.

Net income was $4.4bn in 2013 compared to $4.2bn in 2012. Swiss Re was buoyed by a fourth quarter profit of $1.21bn compared to $795m in Q4 2012.

The property and casualty division's profits climbed

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ABI insists fire safety scheme is temporary

Mervyn Skeet, the Association of British Insurers’ director of general insurance, has outlined how the trade body will ensure the Fire Safety Reinsurance Scheme will only last three to five years, and how it will should end criticism of brokers earning commission for arranging cover.

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